Buying opportunity before Fed pivot: Silver price is going to $500, U.S. dollar will crash - Robert Kiyosaki
(Kitco News) In another message to his followers, best-selling author of 'Rich Dad Poor Dad' Robert Kiyosaki said it is time to use the Federal Reserve's aggressive stance to buy more gold, silver and Bitcoin.
As the Fed gets ready to raise interest rates by another 75 basis points for the fourth time in a row at its November meeting, Kiyosaki says it is time to do some precious metals shopping, and that includes Bitcoin.
"BUYING OPPORTUNITY: if FED continues raising interest rates U.S. $ will get stronger, causing gold, silver & Bitcoin prices to go lower. BUY more. When FED pivots and drops interest rates as England just did, you will smile while others cry. Take care," he tweeted over the weekend.
BUYING OPPORTUNITY: if FED continues raising interest rates US $ will get stronger causing gold, silver & Bitcoin prices to go lower. BUY more. When FED pivots and drops interest rates as England just did you will smile while others cry. Take care— therealkiyosaki (@theRealKiyosaki) October 2, 2022
The U.S. dollar strength, which has been keeping massive downward pressure on gold and silver, will not last, Kiyosaki added. All of Q3, the U.S. dollar index has traded near 20-year highs.
"Will U.S. dollar follow English Pound Sterling? I believe it will. I believe the U.S. dollar will crash by January 2023 after Fed pivots," he said in another recent tweet.
Will US dollar follow English Pound Sterling? I believe it will. I believe US dollar will crash by January 2023 after Fed pivots. To profit from crash of US $ I bought many more US silver Buffalo rounds. Silver is a bargain. I will not be a victim of the F*CKed FED. Take care.— therealkiyosaki (@theRealKiyosaki) October 1, 2022
To make money, the best-selling author said he is buying more silver. "To profit from crash of U.S. $ I bought many more U.S. silver Buffalo rounds. Silver is a bargain. I will not be a victim of the F*CKed FED," he said.
Kiyosaki sees silver jumping to $100 and then to $500 within this decade. "END is HERE. Called Jerry Williams my trusted gold and silver dealer. He said 'I can't get gold or silver coins. The mint will not sell me anymore.' To me this means the end of FAKE $ is here," Kiyosaki tweeted. "Stocks, bonds, mutual funds, ETF & Real Estate crashing. As PREDICTED Middle class being wiped out. Silver to stay at $20 for 3-5 years, then climb to $100 to $500. Everyone can afford silver even poor. Accumulate silver now."
END is HERE. Called Jerry Williams my trusted gold and silver dealer. He said “I can’t get gold or silver coins. The mint will not sell me anymore.” To me this means the end of FAKE $ is here. As stated in earlier tweet silver going to $100 to $500. Get some. Protect your self— therealkiyosaki (@theRealKiyosaki) September 20, 2022
The best-selling author cited the gold-silver ratio, stating that in the 20th century, the gold:silver ratio was at 47:1, which means that it took 47 ounces of silver to buy one ounce of gold. Right now, that ratio is at around 83:1.
"Why I suggest 'buy silver.' For $25 bucks, everyone can buy a silver coin. Don't take my word for it. Study. Become rich. Don't be a fool," he said in another post.
At the time of writing, December silver futures surged to six-week highs, last trading at $20.55, up nearly 8% on the day. In the meantime, December gold futures breached the key $1,700 an ounce level, last trading at $1,700.70, up 1.72% on the day.
When speaking to Kitco News' Editor-in-Chief and Lead Anchor Michelle Makori, Kiyosaki explained that investors need to protect their portfolios with "hard assets" like gold, silver, and livestock, as the "biggest crash in history" unfolds.
"Anything that can be printed, like a stock certificate, a bond, or a dollar, I don't want it," he noted. "I'm a hardcore gold, silver, oil, and food buff… I'm a hardcore hard assets person."
He suggested that these assets are "insurance" rather than an investment.